Effectiveness in Business World Report

Effectiveness in Business
World

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................2
a) Nature of restaurants business............................................................................................2
b) Advantages and disadvantages of owning own business...................................................2
c) ln what ways could PESTEL be useful in planning your start-up business?.....................2
TASK 2............................................................................................................................................4
a) ln what ways can 'globalisation, have an impact on your business?..................................4
b) Suitable technology would your business use....................................................................4
TASK 3............................................................................................................................................6
a) Identify who customer and need of identification..............................................................6
b) Attract more customers to your business...........................................................................6
TASK 4............................................................................................................................................7
A) Role of ethics in business..................................................................................................7
B) Describe the way business treating with their employees ethically..................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Effectiveness is a term which means “doing the thing in a right way” for attaining
objectives of specific business in defined time period with the help of useful tools or
technologies (Chhokar, Brodbeck and House eds., 2013). This assignment is segmented into
various parts for highlighting the factors which is consider by an association while maximizing
their revenue. “THE OX” is a restaurant whose main objective is to offer Mexican foods to their
desired customers by satisfying their needs or demands is going to outlined in this project.
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TASK 1
a) Nature of restaurants business
Hospitality refer to the act of kindness in working or welcoming the basic requirements of
clients or stranger in sector of food, drink and accommodation. This the quality of hospitality to
provide accommodation, food or shelter to the people who are living far from their home. While
discuss the industry of hospitality, it includes hotels, hospital, restaurants, cafes and other
services organisation. The nature of this business is it is intangible and heterogeneous business
in regard of products and services they provide.
I desire to start a business in the sector of hospitality industry as I want to start a restaurants
“The Ox” in streets of United Kingdom. I have determined to initiate with Kebab and curry
business along with Mexican and other food services. The main focus of business will be to
serve quality of products and best services to the people for satisfaction in the food.
b) Advantages and disadvantages of owning own business
Institution of own business is not like other occupation but a pathway to a distinct lifestyle. You
own the business, activities, responsible for all flaws and faults and make the decision of your
won company (The Pros and Cons of Owning a Business, 2014).
Benefits
 You only influence your business and all benefit is your.
 One is allowed to make experiments, put their creative ideas in this.
 This render self believe and confidence to an individual which a job can not.
 One control and monitor every business aspects and not accountable to report anyone.
Demerits
 Large financial intake and have to face loss individually.
 Management and administration process become longer and larger day by day.
 No steady income and unpleasant task.
 No personal time and space after owning one's business.
 Lead to work load and stress on individual.
c) ln what ways could PESTEL be useful in planning your start-up business?
PESTEL refer to the evaluation of elements which are situated in external environment that
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